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Released October 05, 2021 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--INEOS Group AG (London, England) is investing more than £1 billion (US$1.4 billion) to reduce emissions at Scotland's largest refinery and petrochemical site at Grangemouth.
The company said the investment represents the next phase of its Road Map to deliver emissions savings of more than 60% across the site by 2030, as it continues to make reductions towards net-zero emissions by 2045, in line with the Scottish government's goals. The investment also will cover the construction of a "world-scale carbon capture-enabled hydrogen production plant." INEOS has already committed over £500 million (US$700 million) on projects which are approved and currently being implemented at Grangemouth. Industrial Info is tracking a number of these including its New Energy Plant, which is due for completion in late 2023 and will supply energy to all of the site's operations, and a number of projects that will drive down emissions by at least 150,000 tonnes of CO2 per annum.
To support its ambitious carbon capture goals, INEOS and site partner Petroineos (Grangemouth, Stirlingshire) have joined Scotland's first commercial-scale carbon capture and storage (CCS) project, Acorn. They will construct a post-combustion carbon capture plant that will cover the entire Grangemouth refinery and petrochemical site at a cost of US$55 million. The plant will enable the capture and storage of approximately 1 million tonnes a year of CO2 by 2027--a third of the site's total emissions--with the scope to capture further "significant volumes beyond this date," INEOS said.
Captured carbon will be handled by the Acorn CCS project, which is in the first phase of development, and will be operational by 2025, allowing many of Scotland's biggest emitters to transport captured carbon offshore. Acorn CCS is based at the St. Fergus gas terminal in North East Scotland and will repurpose existing gas pipelines to take CO2 directly to the Acorn CO2 Storage Site. Supported by the European Union (EU) and the U.K. government the project aims to overcome the high capital costs involved in getting started by using existing infrastructure. For additional information, see July 20, 2021, article--INEOS Backs Scotland's First Major Carbon Capture Project.
Andrew Gardner, Chairman INEOS Grangemouth, explained: "We've set an ambitious plan to achieve Net Zero by 2045 and today we are announcing the next stage of our road map which includes an investment in excess of £1 billion. Our roadmap builds on the significant reductions we've already made at Grangemouth. When INEOS bought the site in 2005 it was emitting around 5 million tonnes of CO2 per year. We've already reduced that to 3 million tonnes today. Our next step, to use hydrogen combined with carbon capture via the Acorn project, will reduce this to below 2 million. Our Road Map, which extends beyond the Acorn project, has one goal, and that is to safely and efficiently reduce CO2 emissions to zero by 2045."
The new hydrogen plant will initially use gas to produce and use 130,000-150,000 metric tonnes per year (mt/year) to go with the site's current hydrogen production of 30,000-40,000mt/year. The goal will be to move to green hydrogen production from electrolysis powered by renewable electricity after 2030. Gardner added: "Low-carbon hydrogen offers the swiftest decarbonisation route for our industrial sector and today's commitment by INEOS makes an even stronger case for the U.K. Government to select the Scottish Cluster, which INEOS partnered with in the summer, to be among the first CCS clusters to be awarded funding through its current cluster sequencing process."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
The company said the investment represents the next phase of its Road Map to deliver emissions savings of more than 60% across the site by 2030, as it continues to make reductions towards net-zero emissions by 2045, in line with the Scottish government's goals. The investment also will cover the construction of a "world-scale carbon capture-enabled hydrogen production plant." INEOS has already committed over £500 million (US$700 million) on projects which are approved and currently being implemented at Grangemouth. Industrial Info is tracking a number of these including its New Energy Plant, which is due for completion in late 2023 and will supply energy to all of the site's operations, and a number of projects that will drive down emissions by at least 150,000 tonnes of CO2 per annum.
To support its ambitious carbon capture goals, INEOS and site partner Petroineos (Grangemouth, Stirlingshire) have joined Scotland's first commercial-scale carbon capture and storage (CCS) project, Acorn. They will construct a post-combustion carbon capture plant that will cover the entire Grangemouth refinery and petrochemical site at a cost of US$55 million. The plant will enable the capture and storage of approximately 1 million tonnes a year of CO2 by 2027--a third of the site's total emissions--with the scope to capture further "significant volumes beyond this date," INEOS said.
Captured carbon will be handled by the Acorn CCS project, which is in the first phase of development, and will be operational by 2025, allowing many of Scotland's biggest emitters to transport captured carbon offshore. Acorn CCS is based at the St. Fergus gas terminal in North East Scotland and will repurpose existing gas pipelines to take CO2 directly to the Acorn CO2 Storage Site. Supported by the European Union (EU) and the U.K. government the project aims to overcome the high capital costs involved in getting started by using existing infrastructure. For additional information, see July 20, 2021, article--INEOS Backs Scotland's First Major Carbon Capture Project.
Andrew Gardner, Chairman INEOS Grangemouth, explained: "We've set an ambitious plan to achieve Net Zero by 2045 and today we are announcing the next stage of our road map which includes an investment in excess of £1 billion. Our roadmap builds on the significant reductions we've already made at Grangemouth. When INEOS bought the site in 2005 it was emitting around 5 million tonnes of CO2 per year. We've already reduced that to 3 million tonnes today. Our next step, to use hydrogen combined with carbon capture via the Acorn project, will reduce this to below 2 million. Our Road Map, which extends beyond the Acorn project, has one goal, and that is to safely and efficiently reduce CO2 emissions to zero by 2045."
The new hydrogen plant will initially use gas to produce and use 130,000-150,000 metric tonnes per year (mt/year) to go with the site's current hydrogen production of 30,000-40,000mt/year. The goal will be to move to green hydrogen production from electrolysis powered by renewable electricity after 2030. Gardner added: "Low-carbon hydrogen offers the swiftest decarbonisation route for our industrial sector and today's commitment by INEOS makes an even stronger case for the U.K. Government to select the Scottish Cluster, which INEOS partnered with in the summer, to be among the first CCS clusters to be awarded funding through its current cluster sequencing process."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
